Bank Nifty EOD Analysis for 03 April

  •  As discussed in last analysis  Now bulls need to move above 19442 for move towards 19700/20100. Bears will get active below 19040 for a move back to 18769/18496. We should get big move in next 2 days. We got the big move as per expectation and we did almost 1000 points from 19040. Now Bears need to break 18000 for a move towards 17576/17300/17000. BUlls will get active above 18600 for a move back to 18900/19044/19300.

  • Bank Nifty April Future Open Interest Volume is at 87 lakh with addition of 0.03 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @17939 closed above it
  • 19000 CE is having highest OI @20  Lakh resistance at 19700 followed 20000.18500-20000 CE added 11 Lakh in OI so bears added position in the zone of 18500-19000.
  • 17500 PE is having highest OI @14 Lakh, strong support at 17500 followed by 17000.17000-19000 PE added 12 Lakh OI so bulls making support in the range of 17000-18000.

Buy above 18338 Tgt 18550,18800 and  19100 (Bank Nifty Spot Levels)

Sell below 18040 Tgt 17800,17550 and 17300 (Bank Nifty Spot Levels)

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